Question
Ivanhoe Corporation has accounts receivable of $13,000 at January 1, and of $28,000 at December 31. It also has a refund liability of $8,500 at
Ivanhoe Corporation has accounts receivable of $13,000 at January 1, and of $28,000 at December 31. It also has a refund liability of $8,500 at January 1 and $6,200 at December 31. Sales were $220,000 for the year. What amount of cash did the company receive from customers?
| Cash received from customer |
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The Practice Of Modern Internal Auditing
Authors: Lawrence B Sawyer
1st Edition
B0006C58OA, 978-0894130120
